The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1887-06-02
STAUNTON. VIRGINIA. JUNE2 1887
A Specim en- Monopoly.

! Much has been said of The Standard Oil
Monopoly and the influence it exerts in
politics, trade, and even in the courts. 1t
was because of his connection with this
monopoly, that johnson N. Camden was
recently defeated for q. s. Senator from
West Virginia. 1t was the money of this
I monopoly that elected Henry Il. Payne
democratic U. S. Senator from Ohio. Re
Gently, in trial in Buffalo, N. Y, It came
to grief. The case is referred to by the
Lancaster, Pa. Enquirer as follows:
The conviction of the defendants in the
Standard Oil Company conspiracy trial is
asurprising one in view Of the general be-
lief that that corporation was invincl. Ie.-
The suit rested upon charge made by the
Buffalo Lubricating Oh Company to the
effect that certain of the Standard Oil peo-
pie engaged in the management of the
Vacuum Oil Company. one of the corpora
tions controlled by the trust, conspired to
blow up its stills and ruin it's business,
bribing the manager of the Lubricating
OH Company's works to mismanage its
affairs. Evidence was adduced to show
that the manager of the prosecuting com
pany's stills built excessively hot fires on
several occasions, with the object appar.
estly of exploding Them and was found
afterwards on each occasion at the rival
works over the way watching to see the ex-
posion take place. lt.was also testified
that the alleged traitorous manager was
supported afterwards in idleness by the
Standard Oil people at big salary. The
conclusion sought to be established was
that the defendants committed crimes to
prevent competition, and for the loss in
Cured the Lubricating Oil Company asked
damages of 100000. A feature of the
trial was the testimony of John D. Rock
afeller, president Of the Standard Oil Com
pany and the chief spirit of the trust that
controls the Standard and the hundred
other corporations through which mo-
nopoly of the Oil business of the United
States has been secured. Mr.. Rockefeller
who, it appears, is forty times a million
aire, testified as to the nature of the Stan
uoIu Va IL IL 10 llUC du lHCOl pUld-
ton, he said, ut is copartner ship
1t was created by an instrument in writ
ing. 1t has no such existence as subjects
it to legal assault. 1t is as invisible as it
is powerful" In reply to question, Mr..
Rockefeller stated that the trust was
manufacturing company. "We have an
executive committees he said, explaining
how affairs were managed, "who are the
trustees or Gu stodians of the stock of the
various refining companies in the trust
The stock represents property in tho Uni
ted States and small interests in other parts
of the world" The custom, it seems, was
for the Standard Oil people, as individuals
to purchase properties, or enough stock to
give control, and then place the stock in
custody Of the set of persons known as the
trust, mutual confidence and identity of
interests being the elements of the coop
erative monopoly thus established. The
wealth of this monopoly to-day is stated |
to be $3.50, 900, and its net profits last
year were said to be $25,000,000 With |
this imperial income for purposes of at
tack, and it's elusive character when put
upon the defensive, there is little wonder
that it is able to continue, even at this late |
day, the methods Of destroying competition
to which it owes its growth